Nearly 300 Business Leaders Warn Senate: House Bill Would Be “Catastrophic” for U.S. Economy and Energy Security

WASHINGTON, D.C. — Today, nearly 300 business leaders from across America’s clean energy sector sent a letter to the U.S. Senate urging lawmakers to reject the repeal of clean energy incentives in the House-passed reconciliation bill, calling it “catastrophic for the American economy and American energy dominance.”

The signatories, representing companies driving historic clean energy investments, manufacturing, and job creation, warned that the House bill would “jeopardize hundreds of thousands of jobs, decrease our energy supply, raise energy costs, and undermine U.S. energy security and competitiveness for decades to come.”

The letter calls out the proposed repeal of clean energy tax credits—central pillars of the Inflation Reduction Act—as a “sledgehammer on American energy.” If enacted, they write, the bill would sharply reduce domestic energy production and cause energy costs to spike, just as electricity demand is surging due to data centers, AI, and next-generation technologies. Recent reports project that data center expansion alone could raise electricity bills by up to 70% over the next five years.

“The math is simple: energy demand is rising as rapidly as American’s energy bills… We need every energy source available to us, not less. Gutting renewable energy supply will make energy less reliable and more expensive for households and businesses alike.”

The business leaders emphasized that repealing these tax credits could cost American families an additional $110 annually in energy bills starting next year, and warned that the bill’s so-called “phase out” timelines are unworkable from any practical business perspective.

The uncertainty in this industry since Trump came into office has already wreaked havoc on the fastest growing industry in the United States. A recent report revealed that since Trump’s election, 142 clean energy projects have been threatened, delayed, or canceled, representing $86.76 billion in investment and 91,631 announced jobs. 

The signers urged Senators to correct course and protect these critical investments, citing bipartisan support for preserving clean energy incentives, including from Republican governors and senators.

“Let’s move forward—together—with a plan that secures America’s energy future and supports the businesses, workers, and communities building it.”

Click here to read the full letter.